The strategic management process - Strategic management
3 important questions on The strategic management process - Strategic management
Which sources are there, to get competitive advantage?
- Technology
- cost and quality
- knowledge and speed
- Barriers to entry: creating a market stronghold that's protected from entry others
- financial recsources: having better investments
What is a strategy?
A comprehensive plan, guiding resource allocation to achieve long-term goals
Which strategic levels are there?
- Corporate level strategy; the long-term direction a organization operates, in which market shoul we compete
- Business level strategy; How are we going to compete for customers in this industry and market
- Functional strategy; Guides of organizational resources to implement in the business strategy (finance, marketing,manufactering, humanresources)
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